The New Zealand railway network was initially built by provincial governments, starting with the Ferrymead Railway in 1863, from 1880 a central Government department, the New Zealand Railways Department, was responsible for operating most of the growing railway network. A few private lines were built, but only one, the Wellington and Manawatu Railway Company (W&MR) achieved any measure of success. The W&MR was nationalised in 1908. In 1931 due to increasing competition from road carriers, the Transport Licensing Act 1931 was passed, restricting road cartage and giving the railways department a monopoly on long-distance freight; in 1982, the same year the land transport sector was deregulated, the Railways Department was reconstituted as the New Zealand Railways Corporation, a statutory corporation (later a state-owned enterprise from 1986). The Railways Corporation restructured the operations of the railway network substantially during the 1980s, reducing staffing levels, closing workshops and introducing a number of measures to increase productivity, such as removing guard's vans, increasing train lengths and introducing new, heavier bulk bogie wagons.

The Fourth Labour Government passed the New Zealand Railways Corporation Restructuring Act 1990 on 28 August of that year.[5] Two months later, on 28 October 1990, the New Zealand government removed core rail transport and shipping operations from the New Zealand Railways Corporation, creating a separate entity called New Zealand Rail Limited, a Crown Transferee company created under the Act.

The government wrote off NZ$1.3 billion in debt acquired by the company from the Railways Corporation (mainly for the electrification of the North Island Main Trunk, a Think Big project), and injected a further $300 million in capital. Despite this capital injection the company remained only marginally profitable, reporting after-tax profits of $36.2 million in 1992 and $18 million in 1993. The Railways Corporation retained ownership of the land beneath the railway tracks and yards, which New Zealand Rail paid $1 per year to lease.[6]

New Zealand Rail re-branded, introducing a new logo similar to the Railways Corporation but with blue and yellow as colours instead of red and black, and a blue livery on locomotives, rolling stock and buildings.

The Bolger National government, elected following the defeat of the fourth Labour government in elections held in October 1990, privatised New Zealand Rail Limited in 1993. The company was sold for $328.3 million[7] to a consortium named Pylorus Investments Limited, shortly afterwards renamed Tranz Rail Limited. The consortium was made up of merchant bankers Fay, Richwhite & Company (31.8% via the investment company Pacific Rail, later renamed Midavia Rail), the American railroad Wisconsin Central (27.3%), Berkshire Partners (27.3%), Alex van Heeren, the owner of Huka Lodge, 9.1% and Richwhite family interests, 4.5%. Tranz Rail Limited raised funds to buy New Zealand Rail by borrowing $223.3 million, and its shareholders contributed $105 million to the acquisition price through the purchase of 105 million Tranz Rail shares at $1 each.[7]

One of New Zealand Rail's most controversial safety incidents happened in 1994 when 6-year-old Morgan Jones fell under an observation carriage on the Coastal Pacific express, after a hand rail he was holding onto suddenly fell off, although Jones survived the accident, he was left blind and had a leg amputated.[8][9]

New Zealand Rail carried its corporate brand until 18 October 1995, when Tranz Rail Limited was renamed Tranz Rail Holdings Limited and New Zealand Rail Limited was renamed Tranz Rail, on the same day Tranz Rail Holdings Limited made a $100 million capital repayment to the Fay Richwhite consortium, largely financed by the sale of shares in Clear Communications.[7] The Tranz Rail brand was created by Wellington-based Cato Partners, who also designed brands for the divisions of Tranz Rail:[11]

Tranz Rail listed on 14 June 1996 on the New Zealand Sharemarket and NASDAQ. 31 million new shares, equivalent to 25% of the company, were issued to the public at $6.19.[7] The share price reached $9.00 in the middle of 1997, and some of the original Tranz Rail shareholders took advantage of the high share price to sell down their shares in the company. Berkshire Fund sold most of its shares at more than $8 each between November 1996 and March 1997;[7] in 1998, Alex van Heeren sold his holding for a profit of more than $42 million, and the next year Fay Richwhite sold 6.2 million shares at an average $3.67 a share. On 8 February 2002, Fay Richwhite sold 17.6 million shares at $3.60 a share and Berkshire Fund sold 4.3 million shares on 12 February that year at the same price.[7]

In partnership with Wisconsin Central as the Australian Transport Network, Tranz Rail invested in Tasmanian rail operator TasRail in 1997, from 1998 Tranz Rail sold twelve members of its DQ class and three QR class locomotives to TasRail. The locomotives were rebuilt at the Hutt Workshops, the DQ locomotives were originally imported by New Zealand Rail in 1995 from Queensland Rail as an alternative to buying new locomotives. However, in service they proved unpopular with locomotive crews, due to excessive vibration and noise in their cabs.[12]

In December 1996, Tranz Rail sold the DFT class of locomotives to the Chicago Freight Car Leasing for $131.5 million. It then leased the locomotives back for a period of 12 years, the lease ended on 19 December 2008 with the locomotives returning to Tranz Rail's successor, KiwiRail.[13]

Tranz Rail's chairman Ed Burkhardt resigned in August 1999 as a result of resigning as the chairman, CEO and president of Wisconsin Central. Industry insiders put this down to his preference to re-invest revenues rather than paying dividends to shareholders.[14] Wisconsin's new board sold the company to the Canadian National Railway on 9 October 2001. Canadian National then put its 24% shareholding in Tranz Rail up for sale.[7]

Michael Beard became CEO of Tranz Rail in 2000,[15] his policy was to focus on the rail freight operation, and sell any assets which were not core to this business, such as long distance passenger trains (Tranz Scenic) and commuter services in Wellington and Auckland (Tranz Metro).[16] Beard also moved Tranz Rail's headquarters from the Wellington Railway Station to a new purpose-built office on the North Shore of Auckland, at a cost of $16 million;[15] in 2000 a ministerial inquiry was formed to look into Tranz Rail's safety record,[17] due to an unusually high number of work-related fatalities over the previous 12 months.[18]

Beard introduced a "mode neutral" policy about the same time, this led to accusations that Tranz Rail was intentionally moving freight off rail and onto roads. One of the reasons cited by Tranz Rail for these policies was the cost of using road transport to the company was less than that of using rail, because the road infrastructure is provided as a public good, whereas the rail network was a private good.[19]

Tranz Rail also contracted out services which were previously provided in house. Alstom was soon responsible for locomotive servicing and took over the Hutt Workshops, while Transfield Services took over track maintenance.

In 2001 Tranz Rail sold 50% of Tranz Scenic to two directors of the Victoria, Australia rail operator West Coast Railway for $33 million.[20] This sale included long-distance passenger rolling stock and ten diesel locomotives of the DC class, reclassified as the DCP class, and two EF class electric locomotives; in 2004 this share was purchased by Toll NZ, as one of the West Coast Railway directors had died and the business was not performing adequately.[21]

On 24 December 2001 Tranz Rail sold the Auckland suburban rail network to the New Zealand Government for $81 million;[20] in 2003 a competitive tender was held to find a new operator for the suburban passenger services, which Tranz Rail did not bid for. Connex (later renamed Transdev Auckland) won the contract, and took over Tranz Metro's Auckland operation from 23 August 2004.[22]

Tranz Rail won the Roger Award for The Worst Transnational Corporation operating in New Zealand on three occasions: 2000, 2001 and 2002, and was the first corporation inducted into the "hall of shame", the Awards came amidst critical reports of lax safety standards, inadequate maintenance, asset stripping and insider trading.[23]Toll NZ has been a finalist for the Roger Award twice.

In May 2002 Tranz Rail delisted from the NASDAQ, as 70% of its shares were owned by New Zealanders and 16% Australians.[24]

In May 2003, United States based RailAmerica made a takeover offer of 75c per share for Tranz Rail, the offer was later withdrawn when the share price dropped below 50c. In June 2003, the Government announced that it would buy back the rail network for $1 and purchase a 35% stake in the firm for $76 million (67c per share), which would have given it effective control of the company, the Government would have had the right to nominate three of the seven directors on the board. This met with approval from the Rail and Maritime Transport Union (RMTU) which had run a vigorous "Take Back The Track" campaign for the government to renationalise the railway network. The Rail Freight Action Group, which represents the interests of some of the biggest rail freight using companies, declared its support. Tranz Scenic, by then a separate company from Tranz Rail, did likewise.

In May 2003, the Australian transport firm Toll Holdings purchased a 6.1% share of Tranz Rail, increasing its share to 10.1% by June and 19.9% in July. Toll then launched its own takeover bid, initially offering 75c per share, later increased to 95c.

In July 2003 the Government announced that it was dropping its bid to buy a 35% stake in Tranz Rail, instead allowing Toll to succeed in its takeover bid. Toll's bid valued Tranz Rail at $231 million, the Government reached a Heads of Agreement with Toll later that month, and eventually bought the rail network for $1, plus $50 million for property assets including leases and Wellington Railway Station. The deal also established a performance regime creating incentives for Toll if it shifts freight from road to rail, and penalties if freight carriage falls below 70% of current levels. If Toll increases freight volumes by 10% or more on certain lines the Government will grant it a track access charge holiday, the parties agreed the Government would spend $200 million over the next five years upgrading the track via the New Zealand Railways Corporation, operating as ONTRACK.

Toll did not achieve the 90% stake of Tranz Rail it required to meet the Government's deal and compulsorily acquire the remaining 10% of shares, despite raising its offer again to $1.10 per share. In 2003, around 3,000 small shareholders held 25% of Tranz Rail's shares, many of them major institutional shareholders such as AMI and Infratil, after a number of extensions of the deadline set by Toll, it held 84.2% of shares in Tranz Rail after the offer closed in December 2003. By that time, shares were being sold on the New Zealand Sharemarket for $1.65, above even the independent valuation of between $1.34 and $1.62 made in July by merchant bankers Grant Samuel. Despite Toll not achieving the 90% requirement, the Government honoured the Heads of Agreement made in July.

In February 2004 Tranz Rail reported a $346 million loss for the half-year ended December 2003; in the same year, it carried 2.1 million tonnes of coal on the Midland line in the South Island. The departure of the former chief executive officer, Michael Beard, and six other top managers cost it $6 million in exit payments.

The company was renamed Toll NZ and did not retain any of the Tranz Rail directors; in May 2008 the New Zealand Government agreed to buy the rail and sea transport assets of Toll NZ Limited for $665 million.[25] The government branded the new company KiwiRail.

In late 2004, the New Zealand Securities Commission launched an investigation into the company regarding alleged insider trading; in June 2007 David Richwhite (along with his shell company Midavia Rail, formerly Pacific Rail) agreed to pay NZ$20 million, but did not admit liability.[27]

1.
Rail transport in New Zealand
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Rail transport in New Zealand consists of a network of 1,067 mm narrow gauge railway lines in both the North and South Islands. Rail services are focused primarily on freight, particularly bulk freight, only Auckland and Wellington have urban rail systems, both of which are being upgraded and expanded. The railway network was constructed by the provincial governments of New Zealand from 1863 onwards. New Zealands first public railway was opened in that year at Ferrymead by the Canterbury Province, the first steam-powered railway operated between Christchurch and Ferrymead. The Canterbury Provincial Railways were built to the gauge of 1,600 mm. On 5 February 1867, Southland Province opened a branch from Invercargill to Bluff to the standard gauge of 1,435 mm. From 1870, the government of Sir Julius Vogel proposed infrastructure including railway development. The central government also adopted a gauge of 1,067 mm. The first narrow-gauge line was opened on 1 January 1873 in the Otago Province, Aucklands first railway, between Auckland and Onehunga, opened in 1873. Vogel also arranged for Brogdens of England to undertake several rail construction contracts, a Minister of Railways was responsible for the department, and was a member of the New Zealand Cabinet. The first major route was completed between Christchurch and Dunedin in 1878, later extended to Invercargill the following year, the North Island Main Trunk, linking capital city Wellington with largest city Auckland, opened in 1908 after 23 years of construction. At the networks peak in 1952, about 100 branch lines were operating, large-scale closures of branch railway lines began in the 1960s and 1970s. In 1982, the Railways Department was corporatised into a new entity at the time land transport was deregulated. The Railways Department became the New Zealand Railways Corporation, the Corporation embarked on a major restructuring, laying off thousands of staff and cutting unprofitable services. In 1987 the Railways Corporation became an enterprise, required to make a profit. New Zealand Rail Limited was privatised in 1993, with the new owners adopting the name Tranz Rail in 1995, during the period of private ownership of the network, Tranz Rail was widely accused of diverting rail freight to its trucks and forcing other freight off the rails. Rail freight volumes increased between 1993 and 2000 from 8. 5m tonnes to 14. 99m tonnes carried annually, Tranz Rail was also accused of deliberately running down some lines through lack of maintenance. The Midland Line, which carries coal from the West Coast to Lyttelton, was assessed to be in a safe but poor state by the LTSA government safety body in 2003

2.
Toll Group
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Toll Group, part of Japan Post, is a transportation and logistics company with operations in road, rail, sea, air and warehousing. With an Asia Pacific focus, Toll operates a network of 1,200 sites across 50 countries, Toll Global Logistics provides specialist contract logistics. Toll Resources & Government Logistics provides logistics and supply services to the oil and gas, mining, energy and government and defence sectors in Australia, Asia. Toll Domestic Forwarding provides domestic road, rail and sea freight forwarding within Australia, Toll was founded by Albert Toll in 1888 as a coal haulage business in Newcastle, Australia—hauling coal with horse and cart. At the time of Albert Tolls death in 1958 at the age of 95, in 1959 the Toll business was purchased by National Minerals. In 1962 it became part of mining conglomerate Peko Wallsend, which used Toll for all its transport activities, under Peko Wallsend, Toll was developed into a national carrier. The company subsequently underwent a change to Toll-Chadwick, and its new owners sought to integrate its businesses. By the mid-1980s, Toll-Chadwick had grown one of Australia’s biggest transport operations outside the capital cities. In 1986 Toll was sold to a management buyout led by Managing Director Paul Little, Executive Director Mark Rowsthorn. In 1993 Toll listed on the ASX, in 2010 Toll commenced the One Toll Program which integrated operations under the One Toll umbrella. Externally the program drove the common appearance and branding, and internally it drove common processes, culture. In February 2015, Japan Post, the postal service operator, made a A$6.5 billion cash takeover bid for the company. The transaction was completed in May 2015,1888 The company was founded in Newcastle, Australia. 1960 After the death of its founder, Albert Toll, the company was sold to National Minerals Limited,1985 The company became Toll Transport 1986 A management buyout team led by Paul Little, Mark Rowsthorn and Peter Rowsthorn takes control of the company. 2005 Acquired New Zealand trucking company JD Lyons,2006 Acquired Singaporean logistics company SembCorp Logistics 2006 Acquired Patrick Corporation after a long and acrimonious takeover battle. 2008 Acquired Hong Kong based freight forwarder BALtrans Holdings as part of the continued expansion into Asia. 2008 Acquired United Carriers based in New Zealand,2008 Sold Toll NZs rail operations to New Zealand Government, from 2008 to 2013 the company sponsored the Holden Racing Team

3.
New Zealand Railways Corporation
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New Zealand Railways Corporation is the state-owned enterprise that owns the land beneath KiwiRails railway network on behalf of the Crown. The Corporation has existed under a number of guises since 1982, in 1986, the Corporation became a State-owned enterprise, required to make a profit. Huge job losses and cut backs ensued, and the network, rail operations. The Corporation retained ownership of the land beneath the railway network, and charged a nominal rental to New Zealand Rail, which was privatised in 1993, and renamed Tranz Rail in 1995. In 2004, following a deal with Tranz Rails new owners Toll NZ, oNTRACKs railway infrastructure and employees were then transferred to KiwiRail in 2008, which itself was initially a subsidiary of the Corporation. However, on 31 December 2012 the Corporation once again became the land owner, the NZRC was created as a statutory corporation by the New Zealand Railways Corporation Act 1981 from the New Zealand Railways Department. It took over the operations of the department from 1 April 1982, since then, NZRCs role has changed with various governments policies. Like the Railways Department that preceded it, the Corporation had a responsible Minister, along with rail operations, the Corporation inherited New Zealand Railways Road Services bus, truck and parcels services and SeaRail interisland ferries. The Corporations revenues were halved by the new competition, in April 1983 the Corporation engaged international consultants Booz Allen Hamilton to review the effectiveness and efficiency of the Corporations operations. In May 1984 they consultants reported back to the Muldoon National government and this prompted the then opposition New Zealand Labour Party to launch a campaign called Save Rail. Despite this, rationalisation of the NZRC began with the election of the Fourth Labour government in July 1984, in 1986, the Corporation became a state-owned enterprise under the State-Owned Enterprises Act 1986. Staff cuts were drastic and infrastructure was reduced or closed, workshops at Addington, East Town and Otahuhu were closed. Guards vans were withdrawn from the rear of all trains on 30 May 1987. By 1989 large operating losses and interest had generated a debt of $1.2 billion, the Fourth Labour Government passed the New Zealand Railways Corporation Restructuring Act 1990 on 28 August of that year. NZRL leased the railway corridor from NZRC for $1 per year, branding initially remained unchanged, except that suburban passenger trains were rebranded CityRail. Non-core assets remained with NZRC prior to their disposal, many of these assets were written down by the Government, for $830 million. Railway stations in Auckland, Rotorua, Christchurch, Dunedin, Napier and Oamaru were sold, cityline bus services were sold to various purchasers. A separate deal transferred ownership of the Auckland metropolitan rail network from Tranz Rail to the Government in 2001, from 1 July 2004 NZRC assumed the Crowns responsibilities under the rail access agreement with Toll, and adopted the trading name ONTRACK

4.
Toll Domestic Forwarding
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Toll Domestic Forwarding is a division of the Toll Group specialising in freight forwarding by road, rail and sea within and between Australia and New Zealand. Toll is Australia’s largest mover of freight, Toll New Zealand is New Zealand’s largest freight mover. In March 2012, Toll New Zealand reported they moved more than 2.9 million consignments and they also reported they served more than 4,000 customers. Toll Intermodal has extensive domestic freight forwarding coverage in Australia, providing end-to-end multimodal road, rail, Toll Intermodal operates Australia’s largest inland container terminal which is located at Bowman South Australia. The company started in 2003 when Toll Holdings purchased an 85% stake in Tranz Rail Holdings, Toll New Zealand operates a fleet of more than 950 owner driver and company owned vehicles ranging from small courier vans to heavy 50 tonne truck rigs. When transporting vehicles Toll New Zealand uses specially-constructed, fully enclosed rail wagons, Toll Shipping operates roll on / roll off vessels on Bass Strait, offering two-way shipping services between Tasmania and mainland Australia six days a week. Toll Shipping has two dedicated terminals one at Webb Dock in Melbourne and the other at McGaw Wharf in Burnie, Toll Tasmania is the largest freight forwarder to and from Tasmania specialising in palletised and bulk transport. Toll moves the equivalent of 150,000, containers and approximately 10,000 cars across Bass Strait each year, in 2013 Toll purchased the Trans-Bass freight forwarding service from Linfox Australia. Toll Express is Australia’s largest express pallet carrier and focuses on time-sensitive part load, Toll NQX focuses on the mining, metal and resources sectors in Queensland and the Northern Territory. In 2014 Toll NQX acquired Deeson Heavylift, a specialist heavy haulage, Toll Intermodal employs over 1,000 people and operates 22 depots across Australia. Toll New Zealand has 19 branches throughout the country, Toll Express employs over 2,000 people, has 30 company owned branches and a turnover of over $400 million. Toll NQX employs 1,500 people and has 24 branches Australia wide, each week Toll NQX delivers 43,000 consignments through 2,000 scheduled road services. TDF has considerable warehousing and storage space, specifically in Auckland, Wellington and Christchurch in New Zealand Toll has 120,000 square metres of warehousing space. Toll Intermodal has a 55,000 sq metre facility at Kewdale in Western Australia, ISO9001 - Quality Management Systems HACCP - Hazard analysis and critical control points Official website of Toll Group

5.
Wellington
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Wellington is the capital and second most populous urban area of New Zealand, with 405,000 residents. It is at the tip of the North Island, between Cook Strait and the Rimutaka Range. Wellington is the population centre of the southern North Island and is the administrative centre of the Wellington Region. It is the worlds windiest city, with a wind speed of over 26 km/h. Situated near the centre of the country, Wellington was well placed for trade. In 1839 it was chosen as the first major planned settlement for British immigrants coming to New Zealand, the settlement was named in honour of the Arthur Wellesley, the first Duke of Wellington and victor of the Battle of Waterloo. As the nations capital since 1865, the New Zealand Government and Parliament, Supreme Court, despite being much smaller than Auckland, Wellington is also referred to as New Zealands cultural capital. The city is home to the National Archives, the National Library, architectural sights include the Government Building—one of the largest wooden buildings in the world—as well as the iconic Beehive. Wellington plays host to artistic and cultural organisations, including the New Zealand Symphony Orchestra. It has an urban culture, with many cafés, restaurants. One of the worlds most liveable cities, the 2014 Mercer Quality of Living Survey ranked Wellington 12th in the world, Wellingtons economy is primarily service-based, with an emphasis on finance, business services, and government. It is the centre of New Zealands film and special effects industries, Wellington ranks as one of New Zealands chief seaports and serves both domestic and international shipping. The city is served by Wellington International Airport, the third busiest airport in the country, Wellingtons transport network includes train and bus lines which reach as far as the Kapiti Coast and Wairarapa, and ferries connect the city to the South Island. Wellington takes its name from Arthur Wellesley, the first Duke of Wellington and victor of the Battle of Waterloo, his title comes from the town of Wellington in the English county of Somerset. One of the founders of the settlement, Edward Jerningham Wakefield, reported that the settlers took up the views of the directors with great cordiality, in Māori, Wellington has three names. In New Zealand Sign Language, the name is signed by raising the index, middle and ring fingers of one hand, palm forward, to form a W, and shaking it slightly from side to side twice. The citys location close to the mouth of the narrow Cook Strait leads to its vulnerability to strong gales, legends recount that Kupe discovered and explored the district in about the 10th century. The earliest date with hard evidence for Maori living in New Zealand is about 1280, European settlement began with the arrival of an advance party of the New Zealand Company on the ship Tory on 20 September 1839, followed by 150 settlers on the Aurora on 22 January 1840

6.
New Zealand
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New Zealand /njuːˈziːlənd/ is an island nation in the southwestern Pacific Ocean. The country geographically comprises two main landmasses—the North Island, or Te Ika-a-Māui, and the South Island, or Te Waipounamu—and around 600 smaller islands. New Zealand is situated some 1,500 kilometres east of Australia across the Tasman Sea and roughly 1,000 kilometres south of the Pacific island areas of New Caledonia, Fiji, because of its remoteness, it was one of the last lands to be settled by humans. During its long period of isolation, New Zealand developed a distinct biodiversity of animal, fungal, the countrys varied topography and its sharp mountain peaks, such as the Southern Alps, owe much to the tectonic uplift of land and volcanic eruptions. New Zealands capital city is Wellington, while its most populous city is Auckland, sometime between 1250 and 1300 CE, Polynesians settled in the islands that later were named New Zealand and developed a distinctive Māori culture. In 1642, Dutch explorer Abel Tasman became the first European to sight New Zealand, in 1840, representatives of Britain and Māori chiefs signed the Treaty of Waitangi, which declared British sovereignty over the islands. In 1841, New Zealand became a colony within the British Empire, today, the majority of New Zealands population of 4.7 million is of European descent, the indigenous Māori are the largest minority, followed by Asians and Pacific Islanders. Reflecting this, New Zealands culture is derived from Māori and early British settlers. The official languages are English, Māori and New Zealand Sign Language, New Zealand is a developed country and ranks highly in international comparisons of national performance, such as health, education, economic freedom and quality of life. Since the 1980s, New Zealand has transformed from an agrarian, Queen Elizabeth II is the countrys head of state and is represented by a governor-general. In addition, New Zealand is organised into 11 regional councils and 67 territorial authorities for local government purposes, the Realm of New Zealand also includes Tokelau, the Cook Islands and Niue, and the Ross Dependency, which is New Zealands territorial claim in Antarctica. New Zealand is a member of the United Nations, Commonwealth of Nations, ANZUS, Organisation for Economic Co-operation and Development, Pacific Islands Forum, and Asia-Pacific Economic Cooperation. Dutch explorer Abel Tasman sighted New Zealand in 1642 and called it Staten Landt, in 1645, Dutch cartographers renamed the land Nova Zeelandia after the Dutch province of Zeeland. British explorer James Cook subsequently anglicised the name to New Zealand, Aotearoa is the current Māori name for New Zealand. It is unknown whether Māori had a name for the country before the arrival of Europeans. Māori had several names for the two main islands, including Te Ika-a-Māui for the North Island and Te Waipounamu or Te Waka o Aoraki for the South Island. Early European maps labelled the islands North, Middle and South, in 1830, maps began to use North and South to distinguish the two largest islands and by 1907, this was the accepted norm. The New Zealand Geographic Board discovered in 2009 that the names of the North Island and South Island had never been formalised and this set the names as North Island or Te Ika-a-Māui, and South Island or Te Waipounamu

7.
Wisconsin Central Ltd.
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Wisconsin Central Ltd. is a railroad subsidiary of the Canadian National Railway. At one time, its parent Wisconsin Central Transportation Corporation owned or operated railroads in the United States, Canada, the United Kingdom, New Zealand, in 1993 the Wisconsin Central also acquired the Green Bay and Western Railroad and the Fox River Valley Railroad. In 1995 Wisconsin Central acquired the 322-mile Canadian Algoma Central Railway whose tracks ran north of Sault Saint Marie to Hearst, the Algoma Central runs a popular tourist passenger train through the Agawa Canyon and Agawa Canyon Wilderness Park near Lake Superior Provincial Park. In 2001 the Wisconsin Central was purchased by a second Canadian railroad, along with the former Illinois Central Railroad, the former Wisconsin Central became part of Canadian Nationals United States holdings and its property integrated into the CN system. At the time of its sale to Canadian National, Wisconsin Central operated over 2,850 miles of track in the Great Lakes region, the railroad extended from Chicago into and through Wisconsin to Minneapolis/St. Paul and Duluth, Minnesota, to Sault Ste Marie, Michigan, april 3,1987, The Soo Line Railroad announces the sale of its Lake States Transportation Division to private investors, forming the new Wisconsin Central Transportation Corporation. October 11,1987, The first WC train runs, from Stevens Point to North Fond du Lac, may 1991, WC shares begin trading under the ticker symbol WCTC, raising $36.2 million. 1992, Railway Age Magazine names WC Regional Railroad of the Year,1993, WC acquires the Fox River Valley Railroad and Green Bay and Western railroads through a new subsidiary, Fox Valley & Western Ltd. 1993, A WC-led consortium acquires New Zealand Rail through a new subsidiary, Wisconsin Central International,1995, WC acquires the Algoma Central Railway through a new subsidiary, Wisconsin Central Canada Holdings. 1995, A WC-led consortium acquires Rail Express Systems in the United Kingdom,1996, WC partners with Canadian National Railway and CSX, inaugurating a new intermodal shipping corridor between the west and east coasts of North America. 1996, Three trainload rail freight operators in the UK are united into a new WC subsidiary, march 4,1996, A Wisconsin Central freight train derails in Weyauwega, Wisconsin, the derailment results in a 16-day evacuation. 1997, EWS acquires two more railways in the UK. 1997, Another WC subsidiary, the Sault Ste, Marie Bridge Company, acquires 207 miles of track from Union Pacific Railroad forming a WC connection between Green Bay, Wisconsin, and Ishpeming, Michigan. 1997, A new WC subsidiary, Australian Transport Network, acquires a one-third ownership, six months later, ATN acquires the Emu Bay Railway in Tasmania. 1999, Railroad industry trade journal Railway Age magazine names WC president Edward Burkhardt its Railroader of the Year, january 30,2001, WC and CN announce plans for CN to purchase WC for $800 million and the assumption of $400 million of WCs debt. September 7,2001, The Surface Transportation Board approves the sale of WC to CN, october 9,2001, WC is acquired by CN. December 21,2011, Duluth, Winnipeg and Pacific Railway and Duluth, Missabe and Iron Range Railway, january 1,2013, Elgin, Joliet and Eastern Railway is merged into Wisconsin Central Ltd indirectly as parent company CN made the acquisition. Romell, Rick, Milwaukee Journal Sentinel, Wisconsin Central sold, Soo Line Historical and Technical Society WC2scale - Wisconsin Central Motive Power Photo Gallery #1 RailPictures. Net – Photographs of the Wisconsin Central

8.
Berkshire Partners
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Berkshire Partners is an American private equity firm that has invested in over 100 middle market companies since 1986 through eight investment funds with aggregate capital commitments of $11 billion. Berkshire has developed specific industry experience in areas including consumer products and retail, business services, industrial manufacturing, transportation. The firm has invested over $50 million to $500 million of equity capital in each portfolio company, Berkshire Partners was founded by Bradley M. Bloom, J. Christopher Clifford, Carl Ferenbach, Richard K. Lubin and Russell L. Epker in 1984. The firm traces its roots back to Bostons Thomas H. Lee Partners, since its founding in 1984, Berkshire has raised eight private equity funds with total investor commitments of $11.0 billion since inception

9.
KiwiRail Scenic Journeys
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KiwiRail Scenic Journeys is the long-distance passenger train brand of KiwiRail, previously Tranz Scenic and InterCity Rail. The first branding of long-distance trains was as InterCity Rail, in 1987, as part of a restructuring programme, in November 2001 Tranz Scenic was incorporated as stand-alone subsidiary Tranz Scenic Ltd. Tranz Rail sold 50% of Tranz Scenic to two directors of the Victoria, Australia, rail operator West Coast Railway for $33 million, the sale included long-distance passenger rolling stock and ten diesel locomotives of the DC class, and two EF class electric locomotives. In July 2012 it was revealed that KiwiRail was considering selling the remaining services, the Tranz Scenic brand and blue livery has been replaced by white KiwiRail livery with the introduction of AK carriages on the Coastal Pacific, TranzAlpine and Northern Explorer. In 2004 Tranz Scenic withdrew the Northerner overnight Auckland – Wellington service and this was the last overnight service in New Zealand. Tranz Scenic also reduced the number of served by the Overlander service on the North Island Main Trunk. In April 2006, Toll NZ announced that it was proposing to sell its two South Island trains, the TranzAlpine and the TranzCoastal, in 2009 a resumption of seven-day-a-week operation was announced, a result of increasing passenger numbers. However, the Overlander ceased operations in 2012, being superseded by the Northern Explorer service, in March 2009 the New Zealand government confirmed funding of NZ$39.9 million for 17 AK Class carriages for the TranzAlpine and Coastal Pacific. Further AK carriages were deployed on the new Northern Explorer and The TranzAlpine, the Capital Connection uses British Rail 1970s carriages, refurbished in New Zealand as the S Class. KiwiRail Rail transport in New Zealand Kiwi Rail Scenic Journeys

10.
Tranz Metro
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Tranz Metro, was a New Zealand public transport operator. From 3 July 2016 Wellingtons commuter rail services are operated by Transdev Wellington, suburban passenger rail services in Auckland and Wellington were a part of the New Zealand Railways Department, while bus services were owned either by city corporations or the Railways. Further restructuring of the network came in the 1990s. That year the Auckland Regional Council bought the Auckland CityRail fleet and contracted New Zealand Rail to run it, extending the contract until 1993, in 1993 New Zealand Rail Limited was privatised, renamed Tranz Rail in 1995, with CityRail rebranded Tranz Metro. Stagecoach New Zealand and Greater Wellington Regional Council announced their intention to bid for the Wellington company, Tranz Rail did not bid for the Auckland contract when it expired in 2003. Australian-based Connex won the contract, and took over from 23 August 2004, Tranz Metro Wellington reverted to a business unit of Tranz Rail, with new contracts being signed with GWRC in 2006 for network access, rolling stock maintenance and service delivery. In 2004 Toll Holdings of Australia bought a majority shareholding in Tranz Rail and renamed the company Toll NZ, in October 2009 Cabinet agreed on a Metropolitan Rail Operating Model, which requires the operating contracts for metropolitan rail operations to be contestable. This is in line with Aucklands rail contract, an agreement signed in July 2011 transferred ownership of KiwiRails station buildings, excluding Wellington Railway Station, to the GWRC, along with the D/DM class and EM/ET units. KiwiRail retains ownership of the tracks, platforms, electric traction, the assets were valued at $107.5 million. Ownership of the fleet transferred on 1 July 2011 to Greater Wellington Rail Ltd, in 2014, Transdev announced its intention to bid for the operations contract when it comes up for renewal in 2016. The contact was awarded to the partnership between Transdev and Hyundai Rotem in December 2015, expected to commence in July 2016, Metlink trains are operated under contract from GWRC, which subsidises the operation and owns station buildings and rolling stock. Public consultation in 2005-2006 resulted in changes of emphasis in the new contract. The September 2006 fare rises and section changes were stated to part-pay for an upgrade of trains. Rolling stock as at 2 July 2016, In 2008-2011 KiwiRail and GWRC undertook a major upgrade of the Metlink network, dubbed the Wellington Regional Rail Programme. The $390 million program included, The purchase of 48 two-car electric multiple units, upgrading the electrification system, including refurbishing the overhead lines and masts and 12 new substations to increase electrical supply for the Matangi units. Upgrading the signalling system, including replacing control systems and signal wiring and hardening the track circuits from interference with the electrification, upgrading platforms at several stations to accommodate Matangi units and longer train lengths. Upgrading the Johnsonville Line to accommodate both Ganz Mavag and Matangi units, by improving the loading gauge in the tunnels and under some bridges, lengthening the three crossing loops on the Johnsonville Line to take longer trains. Double-tracking the Kapiti Line from Mackays Crossing through Paraparaumu to just south of Waikanae, electrifying the Kapiti Line from Paraparaumu to Waikanae

11.
Interislander
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The Interislander is a road and rail ferry service across New Zealands Cook Strait, between Wellington in the North Island and Picton in the South Island. It is owned and operated by state-owned rail operator KiwiRail, three roll-on roll-off vessels operate the 50 nautical miles route, taking three hours to complete the crossing. Interislander was started in August 1962 by KiwiRails predecessor, the New Zealand Railways Department, the service primarily provided a RORO rail link between its North and South Island networks, allowing NZR to compete directly with coastal shipping companies for inter-island freight. It also provided the first RORO road link between the two islands, which saw the Interislander compete with, and then replace, the Union Companys Wellington–Lyttelton ferry service. Before 1962 the North Island and South Island rail networks were not connected, the Union Company ran an overnight ferry between Lyttelton and Wellington using steamers. The Cook Strait Inter-Island Rail and Road Service started on 11 August 1962 with the roll-on roll-off ferry GMV Aramoana, the service dramatically increased efficiency, since freight could stay in the same wagon the whole journey, reducing time and money. The initial service was one sailing each way per day, Wellington to Picton in the morning, the service was an immediate success, although it was criticised for high prices. At NZ£9 10s one way for a family of four, however, there was a fine line to tread when it came to setting the price - too low, and shipping companies and airlines would claim unfair competition. Nevertheless, it was a cow for the Railways - in the 1963/64 financial year. The service expanded with the addition of Aranui in 1966, MV Arahanga in 1972, the Union Company responded to the competition by converting TEV Maori to take roll-on roll-off road traffic and ordering a new RORO ship, TEV Wahine. However, the resurgence was short-lived, on 10 April 1968, Wahine foundered at the entrance to Wellington Harbour during a storm, the Union Company withdrew in 1974, and after two years under the Ministry of Transport, the service was cancelled in September 1976. In 1982 Arahura joined the fleet to replace the ageing Aramoana, the faster Arahura reduced the time across Cook Strait by 20 minutes to three hours. When the New Zealand Railways Corporation was restructured in 1984, the service was renamed SeaRail, in 1989, it was renamed the Interisland Line, and the service became known as The Interislander. The fleet was upgraded with improved facilities and a new livery including Pelorus Jack, in 1991, New Zealand Rail Ltd, including the Interisland Line, was spun off from the Railways Corporation. In 1993, New Zealand Rail Ltd was privatised and became Tranz Rail in 1995, in 1999, Tranz Rail leased DEV Aratere, and between 1999 and 2001 disposed of Arahanga and the Aratika. In 2004, Toll NZ bought out Tranz Rail, and the Interisland Line was renamed the Interislander, both ships were repainted in a new livery, with a fern replacing Pelorus Jack on the funnel - he moved to the hull with the logo. In 2005, Toll leased Challenger, which in 2007 was renamed MV Kaitaki, Kaitaki was the first Interislander ferry without a rail deck, and the first with a bow door. On 1 July 2008 the New Zealand Government purchased Toll NZ Ltd, including the Interislander, in 2011 Aratere was significantly lengthened by adding a 30-metre midsection to increase her capacity

12.
Ferrymead Railway
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The Ferrymead Railway is a New Zealand heritage railway built upon the formation of New Zealands first public railway, from Ferrymead to Christchurch, which opened in 1863. On the opening of the line to Lyttelton on 9 December 1867, in 1964, rail enthusiasts began relaying track on the historic formation and the new 3 ft 6 in narrow gauge Ferrymead Railway officially opened in 1977. It now operates steam, diesel and electric trains regularly and is recognised as one of the most significant rail preservation sites in New Zealand and it serviced ships which docked at the Ferrymead wharf. Construction of the tunnel to the port of Lyttelton was in progress, when this was finished in 1867, after 27 July 1868, the line was used as a siding, by which time the station buildings had been relocated to Christchurch and Heathcote station. It was the first railway in New Zealand to be opened and closed. At that time the Canterbury Branch of the NZRLS applied to the New Zealand Railways Department to lease part of the old Southbridge Branch at Prebbleton, when this was turned down, Ferrymead became a serious possibility. The Museum of Science and Industry and the Canterbury Branch decided that the Ferrymead site was ideal, the centenary of the original line was commemorated in 1963 and the beginnings of the present Ferrymead Railway date to November 1964. The Canterbury Branch started construction of the Ferrymead Railway with infrastructure and facilities including the workshop, engine shed, stations, signalling systems, the railway began to operate trains during 1972 and was officially opened in 1977. Up to that time, locomotives and rolling stock were transported to the site by truck, the arrival of the Vulcans, the first real example of economical diesel motive power, allowed Saturday services and steam substitution to become a reality. Locomotives and rolling stock left Ferrymead by rail to participate in other parts of the rail festival, including several main-line excursions. In 1988, a NZR DM class EMU set comprising motor coach DM320 and trailer D2695 arrived at Ferrymead before the Ferrymead 125 celebrations, but did not attend the actual celebrations. In 1990 there was another festival in conjunction with the New Zealand sesquicentennial. Also in that year, the NZRLS Canterbury Branch was reconstituted as the Canterbury Railway Society, the economic recession of 1991 also had its effect upon CRS. Ferrymead Heritage Park was also in trouble as a result of the economic downturn. This era ushered in a number of changes for rail preservation groups including the introduction of new safety systems under the Land Transport Safety Authority, in 1995 Ferrymead Historic Park was taken over by the Christchurch City Council when its financial losses became unsustainable. Since that time there have been a number of changes in the way that the Park is run, a feature of recent years has been the Waipara Vintage Festivals held every second year from 1995. Ferrymead Railway and Diesel Traction Group locomotives and carriages have participated in each of these festivals, held on the Weka Pass Railway. In 2005 plans for a National Rail Museum were revealed, construction of the first stage will cost approximately $3.5 million

13.
New Zealand Railways Department
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The Department was created in 1880 and was corporatised on 1 April 1982 into the New Zealand Railways Corporation. The role of operating the network was subsequently separated from that of the networks construction. From 1895 to 1993 there was a responsible Minister, the Minister of Railways and he was often also the Minister of Public Works. Originally, New Zealands railways were constructed by provincial governments and private firms, the largest provincial operation was the Canterbury Provincial Railways, which opened the first public railway at Ferrymead on 1 December 1863. Following the abolition of the provinces in 1877, the Public Works Department took over the provincial railways. The Railways Department was formed in 1880 during the premiership of Sir John Hall and that year, the private Port Chalmers Railway Company Limited was acquired by the department and new workshops at Addington opened. Ironically, the first few years of NZR were marked by the Long Depression, as a result, the central government passed legislation to allow for the construction of more private railways. A Royal Commission, ordered by Hall, had removed plans for a line on the west coast of the North Island from Foxton to Wellington. The Act had the effect of authorising the Wellington and Manawatu Railway Company to build the Wellington-Manawatu Line, the most important construction project for NZR at this time was the central section of the North Island Main Trunk. Starting from Te Awamutu on 15 April 1885, the section - including the famous Raurimu Spiral - was not completed for another 23 years, the economy gradually improved and in 1895 the Liberal Government of Premier Richard Seddon appointed Alfred Cadman as the first Minister of Railways. The Minister appointed a General Manager for the railways, keeping the operation under tight political control, apart from four periods of government-appointed commissions, this system remained in place until the department was corporatised in 1982. In 1895, patronage had reached 3. 9M passengers per annum and 2. 048M tonnes, NZR produced its first New Zealand-built steam locomotive, W class, in 1889. Along with opening new lines, NZR began acquiring a number of the railways which had built railway lines around the country. In 1886 the Waimea Plains Railway Company acquired, at the same time, a protracted legal battle with New Zealand Midland Railway Company began, and was only resolved in 1898. The partially completed Midland line was not handed over to NZR until 1900, by that time,3,200 km of railway lines were open for traffic. The acquisition in 1908 of the Wellington and Manawatu Railway Company, a new locomotive class, the X class, was introduced in 1909 for traffic on the line. The X class was the most powerful locomotive at the time, gold rushes led to the construction of the Thames Branch, opening in 1898. In 1906 the Dunedin Railway Station was completed, architect George Troup, a. L. Beattie became Chief Mechanical Officer in April 1900

14.
Wellington and Manawatu Railway Company
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Its successful operation in private ownership was unusual for early railways in New Zealand. The government of Sir George Grey had approved the construction of the line, the final details of the survey were completed, and the first workers for the construction of the line were hired on 21 August 1879. A short section of the line, from Wellington to Wadestown, was partially constructed, however, Greys government was defeated at the September 1879 general election and left office in October 1879. The government of Sir John Hall took office and he had the line removed from the Public Works Estimates, Hall then created a Royal Commission to review the governments public works programme, with a view to reducing government expenditure. The Commission reviewed the Wellington-Manawatu line in March 1880, and concluded that work should be abandoned, backed by the Wellington Chamber of Commerce, a group of prominent Wellington businessmen decided to form a company to fund the railways construction. They did so on 15 February 1881, issuing 100,000 shares at £5 each. By May 188143,000 shares had been sold, including a package to Māori land owners in the Manawatu. In May 1881 the company signed a contract with the government to purchase the land, formation, the total land grants were valued at £96,000.00. The contract stipulated the line was to be built five years of commencement. The contract also included a clause for the government to purchase the company in the future at a fair value, the Act had the effect of authorising the WMRs operations. Construction of the line recommenced on 25 September 1882, construction was completed on 27 October 1886, with the first through train running on 3 November. The WMR was relatively successful, and generated considerable revenue and its land holdings proved to be a major revenue stream for the company, as sections of the lines opened, the land value around it increased and thus the WMR profited from its own operations. The railways operations were advanced by standards of the time, having comfortable carriages, dining cars, electric lighting, by comparison, the government-operated network did not introduce dining cars until 1902. The WMR was bought by the government in 1908 and integrated into the New Zealand Railways Department from Monday 7 December 1908, the WMR line ran for about 134 kilometres. From the Thorndon terminus it wound up through the hills to Johnsonville and it then proceeded to Tawa, roughly along the line of the State Highway 1 motorway. This section was bypassed by the Tawa Flat deviation from 19 June 1937, from Tawa to Longburn the North Island Main Trunk line generally follows its route, through Porirua, Paekakariki, Paraparaumu, Otaki, and Shannon. A number of new towns were established along the route, notably Plimmerton, named after company director, Levin, named after William Hort Levin, and Shannon, named after George Vance Shannon, were also named after directors of the company. Wellington and Longburn station buildings were provisional, as the government procrastinated in building joint stations, fifth Class, Crofton, Khandallah, Porirua, Plimmerton, Paekakariki

15.
Transport Licensing Act 1931
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The Transport Licensing Act 1931 was a New Zealand Act of Parliament regulating land transport. It was introduced following a Royal Commission on road and rail competition in 1930, the Act also regulated aspects such as safety and insurance requirements for carriers and the regulation of public passenger services. In 1933, the Act was amended to cover all rural road carriers carting in excess of 5 miles, in 1939, town carriers were regulated. In 1936, the protection of railways was extended to all freight conveyed over distances greater than those specified by the Act. This was by far the most crucial regulation, as it gave rail an effective monopoly on long-distance freight transport, originally this limit was 30 miles. In 1962 it was increased to 40 miles, and in 1977 to 150 kilometres, the Act was repealed in 1982, effectively deregulating land transport and opening the railways up to competition. The Railways Department was corporatised as the New Zealand Railways Corporation as a result, freight traffic reached its low point in 1993, and since then railway freight traffic has increased. New Zealand Acts As Enacted - Transport Licensing Act 1931 Transport in New Zealand

16.
NZD
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The New Zealand dollar is the currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross Dependency, Tokelau, and a British territory, the Pitcairn Islands. Within New Zealand, it is almost always abbreviated with the dollar sign, in the context of currency trading, it is often informally called the Kiwi, since New Zealand is commonly associated with the indigenous bird and the $1 coin depicts a kiwi. Introduced in 1967, the dollar is subdivided into 100 cents, altogether there are ten denominations—five coins and five banknotes—with the smallest being the 10-cent coin. Formerly there were lower denominations, but those were discontinued due to inflation, the New Zealand dollar is consistently one of the 10 most-traded currencies in the world, being approximately 2. 0% of global foreign exchange market daily turnover in 2013. Prior to the introduction of the New Zealand dollar in 1967, the New Zealand pound was the currency of New Zealand, which had been distinct from the pound sterling since 1933. The pound used the £sd system, in which the pound was divided into 20 shillings and one shilling was divided into 12 pence, switching to decimal currency had been proposed in New Zealand since the 1930s, although only in the 1950s did any plans come to fruition. In 1957, a committee was set up by the Government to investigate decimal currency, the idea fell on fertile ground, and in 1963, the Government decided to decimalise New Zealand currency. The Decimal Currency Act was passed in 1964, setting the date of transition to 10 July 1967, words such as fern, kiwi and zeal were proposed to avoid confusion with the word dollar, which many people at the time associated with the United States dollar. In the end, the dollar was chosen anyway. On Monday 10 July 1967, the New Zealand dollar was introduced to replace the pound at a rate of two dollars to one pound, some 27 million new banknotes were printed and 165 million new coins were minted for the changeover. The New Zealand dollar was pegged to the US dollar at US$1.43 = NZ$1. This rate changed on 21 November of the year to US$1.12 = NZ$1 after the devaluation of the British pound. In 1971 the US devalued its dollar relative to gold, leading New Zealand on 23 December to peg its dollar at US$1.216 with a 4. 5% fluctuation range, keeping the same gold value. From 9 July 1973 to 4 March 1985 the dollars value was determined from a basket of currencies. The NZ$ was floated on 4 March 1985 at the rate of US$0.4444. Since then the value has been determined by the financial markets. The dollars post-float minimum average daily value was US$0.3922 on 22 November 2000, much of this medium-term variation in the exchange rate has been attributed to differences in interest rates. The New Zealand dollars value is often affected by currency trading

17.
North Island Main Trunk
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The North Island Main Trunk is the main railway line in the North Island of New Zealand, connecting capital city Wellington with the countrys largest city, Auckland. The line is 682 kilometres long and passes through Paraparaumu, Palmerston North, Taihape, National Park, Taumarunui, Te Kuiti, Hamilton, most of the NIMT is single track with frequent passing loops, built to the New Zealand rail gauge of 1,067 mm. The line is double track between Wellington and Waikanae, between Hamilton and Te Kauwhata, and between Meremere and Auckland Britomart, the first section of what became the NIMT opened in 1873 in Auckland. Construction of the Wellington end began in 1885, and the line was completed in 1908, the line is credited for having been an economic lifeline for the young nation, and for having opened up the centre of the North Island to European settlement and investment. In the early days, a journey could take more than 20 hours, today. Aucklands first railway was the 13 km line between Point Britomart and Onehunga via Penrose, opened in 1873, the section from Penrose to Onehunga is now called the Onehunga Branch. This line reached Mercer by 20 May 1875, with 29 km from Ngaruawahia being constructed by the Volunteer Engineer Militia and it was extended to Frankton by December 1877, and to Te Awamutu in 1880. An economic downturn stalled construction for the five years. There were also protracted negotiations with local Māori, and the King Country was not accessible to Europeans until 1883, the Wellington-Longburn section was constructed between 1881 and 1886 by the Wellington and Manawatu Railway Company. The company was acquired by the New Zealand Railways Department in 1908, from Te Awamutu it was proposed that the line be built via Taupo or via Taumarunui, the eventual route. Construction of the central section began on 15 April 1885. It was 23 years before the two met, as the central section was difficult to survey and construct. The crossing of the North Island Volcanic Plateau with deep ravines required nine viaducts, by the beginning of 1908, there was a 39 km gap between Erua and Ohakune, with a connecting horse-drawn coach service. From Ohakune south to Waiouru the Public Works Department operated the train, but much of the new section was temporary, with some cuttings north of Taonui having vertical batters and some unballasted sections of track. Ward drove the last spike on 6 November 1908, and the Last Spike monument is at Manganui-o-te-Ao 39°16. 44′S 175°23. 37′E, a two-day NIMT service started on 9 November, with an overnight stop at Ohakune. The dining car went on the express from Wellington to Ohakune, then transferred to the southbound express. Under T. Ronaye the general manager from 1895 to 1913 the section south to Parnell was duplicated and improvements made to the worst gradients, under his successor E. H. Hiley the second Parnell Tunnel with two tracks and an easier gradient was completed in 1915-1916. On the Kakariki bank between Halcombe and Marton a deviation reduced the 1 in 53 grade to 1 in 70, in 1927 automatic colour light signalling was installed from Otahuhu to Mercer

18.
Think Big
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Think Big was an interventionist state economic strategy of the Third National Government of New Zealand, promoted by the Prime Minister Robert Muldoon and his National government in the early 1980s. The Think Big schemes saw the government borrow heavily overseas, running up a large external deficit, petrochemical- and energy-related projects figured prominently, designed to utilize New Zealands abundant natural gas to produce ammonia, urea fertilizer, methanol and petrol. The National Cabinet Minister Allan Highet coined the Think Big label in a speech to a National Party conference in 1977, economist Brian Easton also used the term think big in describing economic strategies. In 1978 New Zealand faced a crisis in oil-supply. OPEC continued to raise the price of oil, then in 1979 the Iranian Revolution paralysed that countrys oil-industry and 5.7 million barrels of oil per day were withdrawn from world supply. In 1978 Bill Birch became the Minister of Energy and he looked to the substantial reserves of natural gas under Taranaki and off its coast as an opportunity to bring life to the ailing economy. In 1979 the oil crisis worsened, during the first half of 1979 OPEC raised oil prices from US$12 a barrel to US$19 a barrel. The New Zealand government banned weekend sales of petrol, on 30 July 1979 the government introduced carless days, where private motorists had to choose one day of the week, on which they could not drive their motor vehicle. Heavy fines were imposed for motorists who were driving on their nominated carless day. The increases in oil prices substantially worsened the already precarious terms of trade. The cost of oil loomed as the component of the New Zealand balance of payments deficit. Muldoons administration intended the Think Big projects to reduce New Zealands reliance on imports, especially oil, motunui converted natural gas from the off-shore Maui field to methanol, which it then converted to petrol on-site. Declining oil prices rendered this process uneconomic and New Zealand abandoned the manufacture of synthetic petrol, the construction of the Clyde Dam on the Clutha River formed part of a scheme to generate electricity for the national grid. A proposed smelter at Aramoana on Otago Harbour was never built—largely owing to resistance on the grounds of the damage that would have been a consequence. Think Big had a impact on New Zealands exports. The industrial projects such as Tiwai Point continue to generate profits for their owners, approval of Think Big, at least during and soon after the time of its implementation, tended to rely on party affiliations. Think Big projects became synonymous with further inflation and industrial trouble, richard Prebble said to the Labour Cabinet during the Maori loan affair, Better to talk about the $7 billion that was borrowed than about the $600 million that wasn’t

19.
New Zealand general election, 1990
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The 1990 New Zealand general election was held on 27 October to determine the composition of the 43rd New Zealand parliament. The governing Labour Party was defeated, ending its controversial two terms in office, the National Party, led by Jim Bolger, won a landslide victory and formed the new government. The Labour Party had taken office after defeating the National Party under Robert Muldoon in the 1984 election, David Lange became Prime Minister and Roger Douglas became Minister of Finance. This internal dissent was off-set somewhat by new legislation and a strong stance against nuclear weapons. Labour was re-elected in the 1987 election with its parliamentary majority untouched, eventually Lange forced Douglas to resign in December 1988, but the crisis had weakened Langes position such that he resigned eight months later. He was replaced as Prime Minister by Geoffrey Palmer, but Palmer failed to revive Labours falling popularity, several months before the election, Palmer was replaced by Mike Moore. The National Party was performing strongly — its leader, Jim Bolger, spoke repeatedly of the Decent Society, the government was also being challenged by the NewLabour Party, founded by renegade MP Jim Anderton. The date for the 1990 election was 27 October,2,202,157 people were registered to vote, and 85. 2% of these people turned out. The number of seats being contested was 97 — this was the same as in the previous election, the 1990 election eventually saw a victory for the National Party, then in opposition. National won nearly half of the vote and 67 of the seats and this was the highest number of seats the party had ever won, either in absolute terms or as a percentage. Four new National MPs, were called the brat pack by Sir Robert Muldoon, the new Green Party gained the third-highest number of votes, but won no seats. The NewLabour Party won a seat, due to Jim Anderton retaining the Sydenham seat he originally won as a Labour candidate. The governing Labour Party, by contrast, suffered its worst-ever electoral defeat since it first won power in the 1935 election, winning only 29 of the seats and 35% of the vote, and losing 27 seats. Initially it appeared that twelve ministers and the Speaker had lost their seats, many of Labours talented class of 84 were sent away, though four of them, Annette King, Jim Sutton, Trevor Mallard and Judy Keall, returned in 1993. The result was due to intense anger at Labour and its policies rather than love of National. Six of these were one-term gains, recaptured by Labour in 1993, seats transferred from departing MPs to new MPs, The seats of North Shore, Papakura, Tarawera, Waitotara and Wallace, all held by departing National MPs, were won by new National candidates. The seats of Christchurch Central, Dunedin North, Eastern Hutt, Manurewa, Nelson, Palmerston North and Panmure, working with David, Inside the Lange Cabinet. The 1990 General Election, Perspectives on Political Change in New Zealand, Occasional Publications No 3,1990 Parliamentary Candidates for the New Zealand National Party

20.
Coastal Pacific
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The Coastal Pacific is a long-distance passenger train between Picton and Christchurch in the South Island of New Zealand, operated by Tranz Scenic. It was called the TranzCoastal from May 2000 until temporarily withdrawn in February 2011 and it was the first train to use the new AK class carriages. It is currently suspended due to damage to the line from an earthquake on 14 November 2016. Before the Main North Line was completed, the sections were served by mixed trains. On 15 December 1945 the line was completed and the Picton Express began operating, providing a service between Picton and Christchurch. In January 1946 the express was cut to thrice weekly, in February 1956 it was replaced by a more frequent railcar service, using RM class 88-seaters. Falling patronage led to smaller Vulcan railcars being used from 1968 to 1975 with small trains, in summer, progressively the old carriages were updated and a buffet carriage was eventually added to replace the Kaikoura pie and tea stop, at the last traditional NZR-style refreshment stop. In April 2006, Toll NZ announced its intention to sell the TranzCoastal, however, with the purchase of Toll NZs rail assets in 2008 by the government, these plans never came to fruition. KiwiRail has upgraded the remaining three long-distance passenger services, following the 6.3 magnitude earthquake that struck Canterbury on 22 February 2011, KiwiRail suspended the train, replacing it with a bus service until 10 April 2011. They announced that it would return on 15 August 2011 under its original name, since 2013 the train has been run as a seasonal service, serving the peak tourist season between about September to April, with no services in the winter months, to offset operating losses. The 7.8 magnitude North Canterbury earthquake on 14 November 2016 caused numerous landslides that destroyed parts of the line in the Kaikoura district. KiwiRail suspended the service, which had been due to operate until May 2017. The train runs daily between Christchurch and Picton, stopping at Rangiora, Waipara, Mina, Kaikoura, Seddon and Blenheim and it was introduced on Sunday,25 September 1988 and took 5 hours 20 minutes. In the present timetable the northbound journey takes 5 hours 13 minutes, cars with luggage space seated 46, passenger-only cars seated 52. In 1984-1985, while the cars were being fitted with new seats, in 1987, due to the need to re-equip the deteriorating yellow Northerner trains, cars were reallocated and refurbished to cover. With this change, the last three original Southerner day cars remaining were refurbished to the design as the three big window cars on the TranzAlpine and the sole Connoisseur car. Two cars seated 51 each in the seats designed by Addington Workshops, the third car became a 31-seat servery/observation car fitted out similarly to its TranzAlpine counterpart, but with detail differences in the buffet counter area. A Mitsubishi - built FM/AG van was fitted with an 11-kW petrol generator at the end for power/baggage duties

21.
Clear Communications
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Clear Communications was a telecommunications company based in New Zealand. Until merging into Telstras operations in 2001, it was the biggest rival to Telecom New Zealand, Clear was equally owned by Bell Canada Enterprises, MCI International, Television New Zealand and Todd Corporation Ltd. Clear Communications employed approximately 1000 staff, and had invested more than $250 million in fixed assets in New Zealand and it also leased fibre optic capacity between Wellington and Christchurch from the Electricorp. The company also had digital microwave links with the provincial cities of New Zealand. It installed further fibre optic capacity between Wellington and Auckland to increase capacity and provide route diversity. Fibre loops and duct lines were installed in the Auckland, Wellington, two separate consortia initially began separate interconnection negotiations with Telecom in December 1989, but by May 1990 had decided to merge their interest to form Clear. By April 1991, Clear was offering domestic and international services, Clear and Telecom had 25 actual and 19 notional points of interconnect throughout New Zealand. After conveying the call on its own network, Clear linked back into Telecoms network at the appropriate POI, Clear achieved approximately 22% of market share in domestic toll services by 1993, reduced to 18% by 1999, and 20% for international toll services. Initially Clear relied solely on Telecom for international calls, but early in 1992 it commissioned independent facilities and it had its own satellite earth receiving station in Auckland and was a member of the Tasman-2 fibre optic cable consortium linking New Zealand and Australia. It was also a member of the consortium owning the PacRim East fibre optic cable between New Zealand and Hawaii, in September 1994 Clear began to provide an 0800 freephone service in competition with Telecom. Prior to this, its service had used the code 0508. In September 1995 Clear reached a new agreement on local service interconnection with Telecom which culminated in a local telephone service interconnect agreement in March 1996. This agreement also included new toll bypass interconnect arrangements, in March 1996, BT plc acquired Bell Canadas 25% stake in Clear. Clear launched an internet service later in 1996 and had about 10,000 customers by May 1997 and it also provided the first commercial ATM service and had an ISDN offering. In June 1999, BT bought the whole of Clear, in 2000, Clear signed a deal with Vodafone New Zealand to give its customers the use of a mobile network. Clear was acquired by TelstraSaturn in 2001 to form TelstraClear

22.
New Zealand DQ and QR class locomotives
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The DQ and QR class were a class of diesel locomotives in New Zealand and Tasmania, Australia. In 1995, Tranz Rail purchased twenty-one 1460 and four 1502 class locomotives with the intention of rebuilding them for service in New Zealand, seven 1460 and one 1502 class were shipped to Auckland in early 1998 and hauled to Hutt Workshops in Wellington. Two more batches followed, one on the rail ferry MV Aratika returning from Brisbane after a heavy engineering inspection. Tranz Rail split them into two classes, the DQ class were rebuilt with a new cab and low nose and painted in the standard Cato Blue scheme, with dynamic brakes, a computerised control system and rebuilt engine. Those rebuilt from 1502 class locomotives received 60xx numbers and those from 1460 class received 63xx numbers and this was done to differentiate the different power output of class members. The first QR class entered service in October 1997, three were not rebuilt but used as sources of spare parts at Hutt Workshops. DQ6007 remained in service around Wellington for a few months in 1996-97 on shakedown before it was assigned to freight services throughout the lower North Island. Another six DQ and seven QR class followed, initially they were not preferred by locomotive crews due to excessive cab noise levels and emissions into the cab. Tranz Rail made modifications to DQ6324 that reduced the level to that acceptable to the Rail & Maritime Transport Union. During this period, the classes were assigned to freight trains. However, DQ6007 made several appearances on the Capital Connection, on similarly rare occasions a DQ appeared on the Overlander, at least as far as Palmerston North. It was soon discovered that the DQ class were not particularly reliable, several were also used as bankers to help trains up the gradients from Dunedin, and later up the 1 in 37 gradient out of Picton. 1460 class loco No.1500 was used occasionally as a shunter at Hutt Workshops, all were repainted in the new red and yellow TasRail livery and renumbered as the DQ2000 class. They were tested on the North Island Main Trunk, receiving temporary TMS numbers that might have become permanent had they remained in New Zealand. The first two were loaded on the MV Polar Queen in mid-1998 with the last arriving in 1999, along with four other ex-Tranz Rail locomotives, QR class 2056,2062 and 2102 were also sent to Tasmania. All were later purchased by TasRail, retaining their Tranz Rail Cato Blue livery, in 2013 the QR class were stored at East Tamar Locomotive Depot in a stripped state. The three locomotives have been since scrapped, the DQ class has not been overly reliable in Tasmania either, although de-rating the prime movers resulted in slightly better reliability. Some have been refurbished by TasRail receiving its new charcoal grey, by late 2015, DQs 2002,2003,2004,2005,2007 and 2008 were put into storage, requiring heavy overhauls and other work before being available for use

23.
New Zealand DF class locomotive (1979)
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The New Zealand DF class locomotive of 1979 is a class of 30 Co-Co diesel-electric locomotives built by General Motors Diesel of Canada between 1979 and 1981. Between 1992 and 1997, all the locomotives were rebuilt as the DFT class, the class should not be confused with the English Electric NZR DF class of 1954, as all of the old DFs had been retired by mid-1975, the DF classification was free to be re-used. This gave the DF several advantages, an effort of 198 kN. The DF is more often confused with the DX class, as both are of similar dimensions though the DX also has the horizontal headlight arrangement. At the time, they were the most powerful locomotives in the South Island, the remaining units were based in the South Island. This removed the DFs from the lower North Island - Gisborne routes, the main downside to the DF was the lack of power output from the diesel engine. This hindered the DF when it came to hauling heavy freight trains out of multiple, in 1992, DF6260 was rebuilt with a new turbocharged diesel engine and some other minor alterations. The rebuilt DF was reclassified DFT, and renumbered 7008, after 18 months of trial, the decision was made to convert the remaining 29 DFs to DFTs, with the last unit converted in 1997. The turbocharged locos can now generate 1,800 kW, the class remains predominantly employed on general freight duties on all routes nationwide, with the general exception of through trains on the NIMT and the Midland Line coal workings. The units operate both in multiple with the mainline locomotive classes, or as single units, depending on availability. Three DFTs/DFBs were in service in Auckland hauling six-car SA trains on the Auckland suburban network and these trains were made up of ex-British Rail Mark 2 carriages, rebuilt for use on Auckland commuter trains. Most were in four- or five-car configurations with a DC class locomotive, the locomotives used on 6-car SA sets were DFBs 7010,7200 and 7348, and DFT7104. These began service on 20 September 2010 with the introduction of a new timetable, DFB7010 was released back to KiwiRail in November 2012 leaving three units operating. The units assigned on the service were taken to Hutt Workshops to be fitted with a fire suppression, in July 2016, Transdev Wellington took over operation of the Wairarapa Connection service, with KiwiRail still providing and operating the DFB locomotives on a hook-and-tow basis. From October 2016, any fire suppressed DFBs that are kept around the Wellington Region. In common with NZR practice at the time the class was numbered with reference to the power output, the second batch all received TMS numbers while under construction. They were then renumbered again when rebuilt to DFT standard in the 7xxx series, in the late 1990s the drivers side front window was enlarged to prevent eye and back problems for drivers focusing on the mainline ahead. Drivers started to notice left-eye fatigue and back issues after long shifts or extended periods driving the locomotives

24.
Bumble-Bee (livery)
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Bumble-Bee is an informal term describing a New Zealand railway locomotive livery found in common usage amongst the railfan community. The first four locomotives that were repainted in the received the Tranz Rail winged logo. Three locos never received branding when they were repainted in the livery, DC4185 initially didnt receive branding either when it was repainted, but the sloping block letters were later applied to the loco. As of March 2017, only three DCs, one DSC and three EFs still operate in this livery. DSG3251 was repainted in the Otago colours of blue and yellow instead of black and yellow, with TR block letters on the hood. TR874 was repainted in this livery, but in reverse with a cab and yellow hoods. This variation was called by many enthusiasts as the Wasp livery. Although not a variation, DC4421 received KiwiRail stickers in early 2014, which painted on the front of the short-hood

25.
Cato Blue (livery)
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Cato Blue is an informal term describing a New Zealand railway locomotive livery found in common usage amongst the railfan community. The livery was first worn on DFT7160 as a variation of the New Zealand Rail blue livery, with the introduced of Tranz Rail on 18 October 1995, the livery was adopted to replace New Zealand Rails blue livery, which was introduced in 1991. The scheme was known as Cato Blue after its creator, Cato Partners, DFT7199 was the first locomotive repainted in the livery after Tranz Rail took over the rail system. It wasnt just locomotives that were repainted in the livery, Tranz Scenics 56-foot, 60-foot and 64-foot carriages and AG vans were also repainted in the livery, with the Tranz Scenic logo on each of side of the carriages. Several 56-foot carriages, that were used on the Wairarapa Connection until 2007, had the Tranz Metro logo on them and it was then replaced in May 2001 when Tranz Rail introduced the Bumble-Bee livery to promote level crossing safety. As of March 2017, one DCP, ten DSCs, one EF, AG153 can be seen being used on the Capital Connection when AG130 is out of service. Although the two ADs, and five AGs are in storage in Otahuhu and Waltham, they are still operational, some locos received the livery with blue cab stripes. A small group of locos had truncated stripes long enough to cover over the non-reflective numbers DFT7145 had blue cab stripes, dXs 5431 and 5517 had been repainted into the livery, but yellow cabs instead of grey. Both locos were repainted in the version before being repainted in this variation. TR943 was repainted in the livery with blue all over the sides of the long and short hoods and cab, grey on top of the hoods and cab, yellow head-stocks and the Tranz Rail logo painted on the cab. The loco was repainted in this livery by Hillside Workshops with Transtec Engineering Dunedin painted on the sides of the long-hood. With the rights to Cato Blue sold to Tranz Scenic in 2001, DCP4761 received a repaint in the livery, dCPs 4559 and 4628 had the Tranz Scenic logo painted on over the Tranz Rail logo. DSC2624 was repainted by Tranz Scenic with the cab being repainted yellow, instead of grey

26.
New Zealand Exchange
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NZX Limited builds and operates capital, risk and commodity markets and the infrastructure required to support them. It also provides information, data and tools to business decision making. NZX is the registered securities exchange in New Zealand, and is also an authorised futures exchange. Its wholly owned subsidiary, New Zealand Clearing and Depository Corporation, is the operator of a settlement system under Part 5 of the Reserve Bank of New Zealand Act 1989. NZX has offices across New Zealand and Australia and its newest office is in Auckland, adjacent to the Britomart precinct. NZX’s Agri HQ is in Feilding and its Australian operation is based in Melbourne, at the end of February 2017, the NZX had a total of 304 listed securities with a combined market capitalisation of NZD$144.8 billion. NZX began life as a number of stock exchanges during the gold rush of the 1870s. Brokers’ Associations started in Dunedin Brokers’ Association in 1867, Otago in 1868, Auckland in 1872, the Dunedin Association became a Stock Exchange in 1893, Christchurch gained an exchange in 1900. Auckland, Christchurch, Dunedin, Thames and Wellington formed the Stock Association of New Zealand in 1915, joined by Taranaki in 1916, Invercargill in 1920, merger was investigated from 1976, Christchurch and Invercargill merged in 1978 and a national exchange was formed in 1983. In 1974 these regional exchanges were amalgamated to form one national stock exchange, on 24 June 1991, NZSE implemented a computerised trading system, and abolished the open outcry market. This computerised system was replaced with the FASTER trading system in September 1999, on 16 October 2002 the Member Firms of the New Zealand Stock Exchange voted in favour of demutualisation, and on 31 December 2002, NZSE became a limited liability company. On 30 May 2003, New Zealand Stock Exchange Limited formally changed its name to New Zealand Exchange Limited, trading as NZX, and on 3 June 2003 listed its own securities on its main equity market. The NZX Centre building in Wellington was originally constructed in 1907 for the C&A Odlin Timber Company, Mark Weldon was chief executive from 2002 to 2012. In December 2002, the New Zealand Stock Exchange, as it was then known and it officially changed its name to the New Zealand Exchange Limited around six months later and now trades as NZX. In 2009, NZX made a number of acquisitions in the sector, including a Feilding-based publications business. In May 2012 Tim Bennett replaced Mark Weldon as NZX’s CEO, in October 2016 Tim Bennett announced that he would step down from his position as CEO on 31 December 2016. The NZXs Head of Markets, Mark Peterson, will step in as interim CEO on January 12017 until a permanent replacement is found, NZX is the only registered securities exchange in New Zealand, and is also an authorised futures exchange. Its wholly owned subsidiary, New Zealand Clearing and Depository Corporation, is the operator of a settlement system under Part 5 of the Reserve Bank of New Zealand Act 1989

27.
NASDAQ
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The Nasdaq Stock Market is an American stock exchange. It is the second-largest exchange in the world by market capitalization, the exchange platform is owned by Nasdaq, Inc. which also owns the Nasdaq Nordic and Nasdaq Baltic stock market network and several other US stock and options exchanges. When it was founded, NASDAQ stood for the acronym of National Association of Securities Dealers Automated Quotations, NASDAQ was founded in 1971 by the National Association of Securities Dealers, which divested itself of NASDAQ in a series of sales in 2000 and 2001. The Nasdaq Stock Market is owned and operated by Nasdaq, Inc. the stocks of which were listed on its own stock exchange marketing July 2,2002, when the Nasdaq Stock Market began trading on February 8,1971, it was the worlds first electronic stock market. At first, it was merely a system and did not provide a way to perform electronic trades. The Nasdaq Stock Market helped lower the spread but was unpopular among brokerages which made much of their money on the spread. As late as 1987, the NASDAQ exchange was still referred to as OTC in media. Over the years, the Nasdaq Stock Market became more of a market by adding trade and volume reporting. The Nasdaq Stock Market attracted new companies such as Microsoft, Apple, Cisco, Oracle and Dell. Its main index is the NASDAQ Composite, which has published since its inception. In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first intercontinental linkage of securities markets, the National Association of Securities Dealers spun off the Nasdaq Stock Market in 2000 to form a publicly traded company. In 2006, the status of the Nasdaq Stock Market was changed from a market to a licensed national securities exchange. In 2007, Nasdaq merged with OMX, an exchange operator in the Nordic countries, expanded its global footprint. NASDAQ OMX could be looking to acquire the American exchanges cash equities business, at the time, NYSE Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was valued at $9.45 billion. Late in the month, Nasdaq was reported to be considering asking either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it proceeded, an $11–12 billion counterbid. The European Association of Securities Dealers Automatic Quotation System was founded as a European equivalent to the Nasdaq Stock Market and it was purchased by NASDAQ in 2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the burst of the dot-com bubble, in 2007, NASDAQ Europe was revived as Equiduct, and is currently operating under Börse Berlin

28.
Australian Transport Network
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Australian Transport Network was a freight railway operator in Australia that commenced operating in November 1997. The company operated narrow gauge trains in Tasmania and standard gauge trains in New South Wales and it was formed as a joint venture with Tranz Rail owning 67% and Wisconsin Central 33%. In February 2004, ATN was sold to Pacific National, in August 1997, ATN was announced as the successful bidder for Australian Nationals Tasrail operation in Tasmania with the handover occurring on 1 November 1997. In 1998, Tasrail purchased the Emu Bay Railway from Pasminco, the president of Wisconsin Central, Ed Burkhardt dispatched Mark Rosner to Australia to take control in Tasmania. Amongst Rosner’s achievements was the implementing of a new condensed Operating Rule Book, single car roadside freight was resumed where customers required it in line with US short line practice. On sections of the trunk line north of Hobart, moving block train spacing managed over train radio replaced fixed block train order working introduced under Australian National. ATN inherited a fleet of Alco and English Electric locomotives from Australian National, two rebuilt Westrail D class locomotives were also forwarded from Tranz Rail in August 2001. In conjunction with a new radio system, in June 1998 the entire locomotive fleet was renumbered. At this stage 31 locomotives were operated, on the mainland, ATN Access was formed to bid for freight work. ATN Access purchased seven L class locomotives from Westrail in July 1999 with four being overhauled by National Railway Equipment Company, in June 2000, three 830 class locomotives were purchased from Australian Southern Railroad. These were often supplemented by locomotives hired from Chicago Freight Car Leasing Australia, ATN Access also imported 44 new grain wagons from China. These were constructed at the Qiqihar Railway Workshops in Northern China

29.
AN Tasrail
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AN Tasrail was an Australian railway operator that operated the Tasmanian rail network from March 1978 until November 2009. It was a subsidiary of the Federal Governments Australian National until November 1997 when sold to Australian Transport Network, in April 1998 Tasrail purchased Tasmanias only other rail operator, the Emu Bay Railway in the states north-west from Pasminco. In February 2004, the company was purchased by Pacific National, owned by Patrick Corporation, in 2009 the operations were taken over by TasRail. The main cargo carried by AN Tasrail was cement, which is carried from Railton to the port at Devonport, other major commodities carried were coal, logs, containers and newsprint. Passenger services ceased in June 1978, the Australian National green and yellow livery was adopted in 1980. Upon privatisation, the Wisconsin Centrals maroon and yellow livery was adopted and this was retained during the period of Pacific National ownership. AN Tasrail inherited all of the Tasmanian Government Railways rolling stock, no new locomotives were ordered, but second-hand locomotives purchased, some of which were for parts only

30.
Hutt Workshops
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The Hutt Railway Workshops is a major railway engineering facility in the Lower Hutt suburb of Gracefield in the Wellington region of New Zealands North Island. It is state-owned enterprise KiwiRails only workshops, and was opened in 1930 and this facility is the central motive power maintenance operation and also maintains rolling stock. The Hutt Workshops were preceded by a workshops at Petone, adjacent to the railway station and it operated from 1876 when first used to store the H-class Fell locomotives until its replacement in 1929. In the 1920s, the caused by the inadequacy of some railway workshop facilities was becoming more acute. In order to examine the issue, a Royal Commission was established in 1924 consisting of English railwaymen Sir Sam Fay, the original intention was for Otahuhu to assume responsibility for locomotive works, and for Hutt to be the car and wagon workshop. This had to be reversed when it was discovered that the land on which Otahuhu had been built was not suitable for the machinery required to work on the locomotives. The new workshops were to be served by the Hutt Industrial Line, the plant was completed in 1929, with an official opening happening the following year. One of the biggest improvements from the point of view of the staff was the new ventilation system, at Petone, ventilation was a rather primitive affair, relying on windows and roof vents, as well as circular stoves placed at strategic locations around the buildings. This had replaced an earlier and even more basic system of steam pipes around the machines, the first locomotives to be produced were Prairie type C shunting engines, of which 12 were built at the Hutt Workshops. They were supposed to replace many of the types of steam locomotives that were still in service. They were the last steam locomotives to work the Wellington yards or wharves before the introduction of diesel locomotives, after the C-class locomotives came the famous K-class 4-8-4s, of which class leader K900 became rather well known for its most public departure from the workshops in November 1932. The last steam locomotives to be produced at Hutt were Ka class locomotives 958 and 959 in 1950, from the 1930s until the 1980s Hutt Workshops had responsibility for assembling then maintaining Wellingtons fleet of electric locomotives. The first to service were the ED class in 1938. All were withdrawn from service by the mid-1980s. Various restructuring exercises in the late 1980s and 1990s resulted in the loss of several functions, for example, the former workshops administration building was relocated to the Wairarapa town of Greytown and now houses The White Swan hotel and restaurant. The facility has experienced changes in ownership. It was originally constructed, owned and operated by the government’s Railways Department, later the Railways Corporation from 1982, and then New Zealand Rail Limited from 1991. In 1993 New Zealand Rail was privatised, and renamed Tranz Rail in 1995, before itself being bought out by Australian firm Toll Holdings in 2003, which was then re-nationalised as KiwiRail in 2008

31.
Queensland Rail
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Queensland Rail, also known as QR, is a railway operator in Queensland, Australia. Owned by the Queensland Government, Queensland Rail operates suburban and long-distance passenger services and it also owns and maintains approximately 8,000 kilometres of track in Queensland. Queensland Railways was the first operator in the world to adopt narrow gauge for a line. The colony of Queensland separated from New South Wales in 1859, improved transport to the fertile Darling Downs region situated west of Toowoomba was seen as a priority. Called the Main Line, the only significant engineering work on that section was the bridge over the Bremer River to North Ipswich. The adoption of narrow gauge was controversial at the time, and was predicated by the governments desire for the fastest possible construction timeframe at least cost. In a colony with a population of 30,000 when the decision was made. Queensland Rail went on to develop a network of railways to facilitate the economic and social development of the state. Commencing in November 1979 the Brisbane suburban network was electrified, in 1978, discussions were commenced on possible electrification of the Blackwater and Goonyella coal networks. This was due to an increase in coal traffic across the networks, ageing diesel-electric locomotive fleet. By early 1983, a decision had made to electrify the networks and by early 1984 contracts were already starting to be let for the new locomotives. The decision was made to electrify with the 25 kV AC railway electrification system as used on the Brisbane suburban network and this would allow future connection of the Brisbane network with the coal networks via the North Coast line. This was a total of 720 kilometres of track and this was a total of 773 kilometres of track. Stage 3, Electrification of the western line from Burngrove to Emerald. This would allow freight from Rockhampton to Emerald. Stage 4, Electrification of the line from Newlands coal mine to Collinsville, in 1986 it was decided to electrify the North Coast line between Brisbane and Gladstone instead and this became known as Stage 4. In September 1999 Queensland Rail was rebranded as QR, in March 2002 Queensland Rail purchased Northern Rivers Railroad and rebranded it Interail, fulfilling a long held ambition of to expand beyond its state borders. In March 2003 Queensland Rail entered the Hunter Valley coal market when Interail commenced a contract from Duralie Colliery to Stratford Mine, another coal contract was won in late 2003 for the haulage of coal from Newstan Colliery, Fassifern to Vales Point Power Station

32.
TasRail
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TasRail is a train operator owned by the Government of Tasmania that has operated the mainline railways in Tasmania since September 2009. Passenger trains ceased operations in July 1978, established under the Rail Company Act 2009, in September 2009 the Tasmanian Government purchased the AN Tasrail business from Pacific National. TasRail combined the above-rail and business assets with the assets, for which the state had assumed responsibility in May 2007. The Tasmanian Government Railways had operated the railway network until it passed to the federal governments Australian National in March 1978. As at April 2016, the fleet consisted of 24 operational locomotives, there are 199 level crossings on the TasRail network with active control at 123 crossings and passive control at the remainder. During the period 2003 -2012, there were 36 reported crashes at level crossings, almost two thirds of crashes occurred within urban areas with speed limits 50 or 60 km/hr. Relocation of the Hobart terminal to Brighton during July 2014 means that 29 crossings will become inactive, which is expected to reduce level crossing crashes in Tasmania by 30%

33.
Pacific National
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Pacific National is one of Australias largest rail freight businesses. Formed in February 2002 as a joint venture between Patrick Corporation and Toll Holdings, which formed the holding company Asciano Limited and it is now a subsidiary of Australian Logistics Acquisition Investments Pty Limited. In February 2002 National Rails freight operations and rollingstock were combined with FreightCorp, in February 2004 Pacific National purchased Australian Transport Network, operator of ATN Access and AN Tasrail. As part of the conditions the Australian Competition and Consumer Commission attached special conditions to the sale to ensure competition in the rail freight industry. The company was required to provide a pack of locomotives, wagons, train paths. In November 2006 Pacific National entered into an agreement to sell the remainder of its Victorian rail lease of the back to the Victorian Government. The sale was completed in May 2007, with the government owned V/Line taking over management of the track, in 2005 Toll Holdings launched a hostile takeover bid for its joint venture partner Patrick Corporation which was successful giving Toll Holdings 100% ownership of Pacific National. In 2007 Toll Holdings was restructured into two separately ASX listed companies, Toll Holdings and Asciano Limited, as part of this restructure, Pacific National became a wholly owned subsidiary of Asciano Limited. In 2009 Pacific National Queensland further expanded their narrow gauge operations, the transfer was completed on 19 August 2016. In September 2005 Pacific National angered the Tasmanian State and Australian Federal Governments when it threatened to withdraw all services unless the governments paid a $100 million subsidy, however, state infrastructure minister Bryan Green and federal counterpart transport minister Warren Truss announced a $120 million rescue package. In September 2009 the Tasmanian Government purchased the Tasmanian rail business, with rail infrastructure, the decision was criticised as it forced grain growers to use higher cost road transport to transport the annual grain harvest from rural silos to the ports. The container freight service to Horsham, Victoria was almost cancelled in April 2008 but was given a reprieve by the company. In July 2008 the service was taken over by QR National, Pacific National operates in all mainland states and territories. As at June 2012 the company operates 596 locomotives and 12,875 wagons, services include bulk freight, intermodal containers, and specialised services such as hook and pull for long-distance passenger trains. Pacific National has five operating divisions, which operate as separate companies for accounting reasons. The divisions are, Bulk Rail, born out of the former FreightCorp and Freight Australia companies, major traffic include grain, fuel, agricultural products, trains run on both standard and broad gauges. Intermodal, operates freight and steel trains on the interstate standard gauge network. Formed from the merger of the National Rail, Toll and Patrick Rail, FreightCorp, Coal, transport of export coal on the New South Wales Hunter Valley Coal Chain

34.
Patrick Corporation
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Patrick Corporation Ltd was an Australian publicly listed logistics conglomerate. Headed by CEO Chris Corrigan before it was absorbed by Toll Holdings in 2006, Patrick had interests in shipping, rail and aviation and its headquarters were located in Sydney, New South Wales. Patrick Corporation was one of the parties in the 1998 Australian waterfront dispute which centred on the Port of Melbourne. In August 2005, Toll Holdings launched a takeover bid for Patrick Corporation. In January 2006, the Australian Competition and Consumer Commission ordered that Toll could not takeover Patrick Corporation, Patrick was given approval by the ACCC to acquire freight-forwarders FCL Interstate Transport on the condition that it broke up Pacific National, its joint-venture with Toll. The deal also hinged on Toll being unsuccessful in its bid for Patrick, on 14 April 2006, Patrick Corporation agreed to accept Tolls revised bid for the company after spending nine months fighting the hostile takeover. Tolls revised bid, some $5.8 billion instead of about $4 billion offered initially, was considered by Patrick to be the best deal it could get. The deal ended Patricks plans for acquiring FCL and was expected to mean the sell-off of Patricks 50% stake in Pacific National to a third party. Toll would become the only vertically integrated logistics company in Australia — it would be able to provide a full package of shipping, road, rail. Patrick was absorbed the following day, Patrick had previously been a constituent of the S&P/ASX200 index. Trade in the shares was suspended on 6 June 2006. Patrick and Pacific National were demerged from Toll Holdings in 2007, Toll Holdings Toll NZ Asciano Limited Patrick official website Asciano Limited Toll Holdings

35.
DEV Aratere
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DEV Aratere is a roll-on roll-off rail and vehicle ferry in service for Interislander in New Zealand. Built in 1998 and lengthened in 2011, she operates six crossings from Wellington to Picton each day, in November 2013, she lost one of her propellers in Cook Strait. Diesel Electric Vessel Aratere was built for Tranz Rail, now KiwiRail, the name Aratere means Quick Path in the Māori language. In 2011, Aratere underwent a $52 million refit at the Sembawang shipyard in Singapore, the refit included a new bow and stern. The ship was lengthened by cutting it in half to insert a new 30-metre midsection, Aratere has been involved in several technical problems and engine failures over her years in service. There is no relationship between these incidents, though the media have stoked speculation that the ferry may be jinxed. Notable incidents have included,25 February 1999 - An engine failure,18 December 2000 - An engine malfunction. 1 October 2004 -30 seconds of potential disaster after Aratere has a fault in the Marlborough Sounds. 10 February 2005 - Aratere was detained after a crisis of confidence with inspectors noting that she had arrived from Spain six years earlier in a shocking state and they could no longer allow her to operate as she was She was eventually allowed to sail again on 15 March. After the extensive refit carried out in Singapore in 2011, she has once again experienced numerous incidents, on 2 November 2011 Maritime NZ ordered the ship to stop operating until proven safe. On 5 November 2013 Aratere snapped a drive shaft losing a propeller in Cook Strait and this initially forced the ship out of service, causing disruption to Interislander schedules. Subsequently the ship was allowed to make freight only crossings with only one propeller for propulsion, Aratere has both rail and vehicle decks. These can be loaded simultaneously through the stern via a double linkspan, a lower hold has additional space for cars, though access to this hold was blocked off after the refit in Singapore. Deck 6 - Bridge and sun deck Aratere operates six crossings of the Cook Strait each day, in late 2009, Aratere celebrated her 20, 000th crossing, having travelled around 2 million kilometres. Aratere at Interislander website New Zealand Herald Aratere-related articles Dominion Post Aratere-related articles New Zealand Maritime Index, MV Aratere Aratere extension,2011

36.
Canadian National Railway
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The Canadian National Railway Company is a Canadian Class I railway headquartered in Montreal, Quebec that serves Canada and the Midwestern and Southern United States. CNs slogan is North Americas Railroad, CN is a public company with 24,000 employees. It had a capitalization of 32 billion CAD in 2011. CN was government-owned, having been a Canadian Crown corporation from its founding to its privatization in 1995, bill Gates was, in 2011, the largest single shareholder of CN stock. Its range once reached across the island of Newfoundland until 1988, the railway was referred to as the Canadian National Railways between 1918 and 1960, and as Canadian National/Canadien National from 1960 to the present. On November 17,1995, the government privatized CN. Over the next decade, the company expanded significantly into the United States, purchasing Illinois Central Railroad and Wisconsin Central Transportation, now primarily a freight railway, CN also operated passenger services until 1978, when they were assumed by Via Rail. The Newfoundland mixed trains lasted until 1988, while the Montreal commuter trains are now operated by Montreals AMT, the absorption of the Intercolonial Railway would see CNR adopt that systems slogan The Peoples Railway. The federal governments Department of Railways and Canals took over operation of the GTPR until July 12,1920, the Canadian National Railway was organized on October 10,1922. After several years of arbitration, the GTR was absorbed into CNR on January 30,1923, Canadian National Railways was born out of both wartime and domestic urgency. Railways, until the rise of the automobile and creation of taxpayer-funded all-weather highways, were the only viable long-distance land transportation available in Canada for many years. As such, their operation consumed a great deal of public, in the early 20th century, many governments were taking a more interventionist role in the economy, foreshadowing the influence of economists like John Maynard Keynes. This political trend, combined with broader geo-political events, made nationalization an appealing choice for Canada, the Winnipeg General Strike of 1919 and allied involvement in the Russian Revolution seemed to validate the continuing process. The need for a rail system was paramount in a time of civil unrest. CN Telegraph originated as the Great North West Telegraph Company in 1880 to connect Ontario and Manitoba, in 1915, facing bankruptcy, GNWTC was acquired by the Canadian Northern Railways telegraph company. When Canadian Northern was nationalized in 1918 and amalgamated into Canadian National Railways in 1921, CN Telegraphs began co-operating with its Canadian Pacific owned rival CPR Telegraphs in the 1930s, sharing telegraph networks and co-founding a teleprinter system in 1957. In 1967 the two services were amalgamated into a joint venture CNCP Telecommunications which evolved into a telecoms company, CN sold its stake of the company to CP in 1984. This led to the creation of a network of CNR radio stations across the country, as anyone in the vicinity of a station could hear its broadcasts the networks audience extended far beyond train passengers to the public at large

37.
Wellington Railway Station
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Wellington Railway Station is the main railway station serving Wellington, New Zealand, and is the southern terminus of the North Island Main Trunk, Wairarapa Line and Johnsonville Line. The station opened in June 1937 replacing the two previous Wellington termini, Lambton and Thorndon, wellingtons first station, Pipitea, was built in 1874 as part of the railway line to the Hutt Valley. This station building burnt down in 1878 and was replaced in 1884 by what became known as Lambton, once both stations were in government control public pressure began to build for a single terminal. Without going through the process of a competition, W. Gray Young, Morton and Young was formed in 1923 and consisted of William Gray Young, Hubert Morton. The firm had recently finished large commissions for Victoria University, designing the Stout Building and Weir House, the need to review building techniques after the Napier earthquake and the impact of the Depression on finances delayed the government formally committing to the project until June 1933. As the planned location was on reclaimed land, test piles were driven in 1928 to test the quality of soil, on the basis of the test results the decision was made to use Vibro cast-in-place piles to support the structure. The building was the first major New Zealand structure to incorporate a significant measure of earthquake resistance, Gray Young was paid a 4% fee based on the originally estimated cost of £470,000. This cost rose to £483,000 once the quantity surveying firm of Maltby & Sommerville compiled a detailed quantity schedule, as a result, the official estimated cost of the station was reduced to £350,000. To encourage employment of workers out of due to the Depression the project received a subsidy of £34,000 from the Employment Board. The building is a U-shaped structure with the longest leg 105.5 metres long and 23.5 metres high and these were driven by a steam-powered hammer. On top of the piles a five- and six-storey steel-framed structure was built, the steel was encased in reinforced concrete and 1.75 million bricks. 21,000 cubic yards of aggregate from the Hutt River with cement from Whangarei were mixed on site to create the concrete,1500 tons of decorative Hanmer and Whangarei granite and marble were used to clad the interior and the entranceway. 2500 gallons of paint were used, the roof was clad in Marseille tiles. The glazed-roof concourse contained waiting rooms and toilets, a dining room, a barber shop, book and fruit stalls. There was a nursery on the top floor to allow parents to leave their children while they shopped or waited for their train, when completed the station was New Zealand’s largest building, partly covering 0.6 hectares and with a combined floor area of two hectares. The platforms, designed to accommodate up to 12 carriages, are made of concrete covered with a surface under verandahs held up by railway irons. A park was created in the forecourt with lawns and paths of paving stones with brick edging arranged in a herringbone pattern, the construction tender closed on 25 September 1933, extended by two weeks in an attempt to encourage local manufacturers to offer locally manufactured materials. Twelve tenders were received, with Fletcher Building the lowest at £339,000, the next lowest was £350,000 from J T Julian & Son, who had constructed a significant part of the Auckland Railway Station

38.
Public good
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This is in contrast to a common good which is non-excludable but is rivalrous to a certain degree. Public goods include fresh air, knowledge, official statistics, national security, common language, flood control systems, lighthouses, public goods that are available everywhere are sometimes referred to as global public goods. Many public goods may at times be subject to excessive use resulting in negative externalities affecting all users, for air pollution. Public goods problems are closely related to the free-rider problem. Thus, the good may be under-produced, overused or degraded, there is a good deal of debate and literature on how to measure the significance of public goods problems in an economy, and to identify the best remedies. Paul A. Samuelson is usually credited as the first economist to develop the theory of public goods and this is the property that has become known as non-rivalry. In addition a pure public good exhibits a second property called non-excludability, the opposite of a public good is a private good, which does not possess these properties. A loaf of bread, for example, is a good, its owner can exclude others from using it. A good that is rivalrous but non-excludable is sometimes called a common-pool resource, such goods raise similar issues to public goods, the mirror to the public goods problem for this case is sometimes called the tragedy of the commons. For example, it is so difficult to enforce restrictions on deep sea fishing that the fish stocks can be seen as a non-excludable resource. V. Ostrom and E. ” Conceptualizing subtractability of use, overtly adding a very important fourth type of good—common-pool resources—that shares the attribute of subtractability with private goods and difficulty of exclusion with public goods. Forests, water systems, fisheries, and the atmosphere are all common-pool resources of immense importance for the survival of humans on this earth. Changing the name of a good to a “toll” good since many goods that share these characteristics are provided by small scale public as well as private associations. The definition of non-excludability states that it is impossible to exclude individuals from consumption, technology now allows radio or TV broadcasts to be encrypted such that persons without a special decoder are excluded from the broadcast. Many forms of information goods have characteristics of public goods, for example, a poem can be read by many people without reducing the consumption of that good by others, in this sense, it is non-rivalrous. Similarly, the information in most patents can be used by any party without reducing consumption of good by others. Official statistics provide an example of information goods that are public goods. Creative works may be excludable in some circumstances, however, the individual who wrote the poem may decline to share it with others by not publishing it

39.
Alstom
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A merger with parts of the General Electric Company plc formed GEC-Alstom in 1989, the company became Alstom in 1998. In 2014, Alstom and General Electric announced that a US$17 billion bid for the power and grid divisions had been made. The GE acquisition deal for the power and grid division was accepted by EU and US anticompetition authorities in mid 2015, in 1932, Alsthom expanded into transportation by acquiring Constructions Electriques de France, Tarbes, a manufacturer of electric locomotives as well as electrical and hydraulic equipment. In 1969, Compagnie Générale dElectricité became the majority shareholder of Alsthom, in 1976, Alsthom merged with Chantiers de lAtlantique, becoming Alsthom Atlantique. Thus, the business expanded into marine, the next year, it constructed the first 1300 MW generator set for the Paluel power station, setting a world record with an output of 1500 MW. In 1978, Alsthom delivered its first TGV to SNCF, the TGV went on to break world rail speed records in 1981 and in 1990. It also set the endurance record for high-speed train lines in 2001. In 1986, Alsthom Belfort received an order from EDF for the largest gas turbine in the world, in 1988–89, holding company CGEE Alstom acquired ACEC Energie and ACEC Automatisme from the dissolution of Belgian electrical engineering company ACEC SA. Alstom acquired 100% of ACECs transport division, renaming it ACEC Transport, in 1991, Alstoms parent company CGE was renamed Alcatel Alsthom Compagnie Générale dElectricité, or Alcatel Alsthom for short. In 1994, GEC Alsthom acquired the vehicle manufacturer Linke-Hofmann-Busch from Salzgitter AG. In 1995, the acquired the remaining shares in the steam turbine manufacturer MAN Energie. In early 1998, GEC Alsthom acquired the electrical contractor Cegelec, in 1998, GEC-Alsthom bought Italian firm SASIB SpAs rail signalling subsidiary Sasib Railways, which included the former General Railway Signal. In June 1998, GEC Alsthom was listed on the Paris Stock Exchange, GEC, at the same time, the company name was changed to Alstom. In 1999, Alstoms energy division merged with ABB in a 50–50 joint company known as ABB Alstom Power, Alstom also bought Canadas Télécité, a passenger information and security solutions company, and sold its heavy-duty gas turbine business to General Electric. The next year, it bought out ABBs share in ABB Alstom Power, in 2000, Alstom sold its diesel engine businesses to MAN Group. It also acquired a 51% stake in Fiat Ferroviaria, the Italian rail manufacturer, in April 2003, Alstom sold its industrial turbine business to Siemens for €1.1 billion. By 2003, Alstom was facing a crisis due to poor sales and over $5 billion of debt liabilities. Alstoms share price had dropped 90% over two years, in 2004, the French state took a 21% stake in Alstom and received an EU-approved French government bailout worth €2.5 billion

Toll's 10-tonne electric truck by Smith Electric. It has a range of up to 200km and a top speed 95km/h. It runs on an 80 kWh lithium-ion battery, requires 5-6 hours overnight charge, and is zero-emission.

A private good is defined in economics as "an item that yields positive benefits to people" that is excludable, i.e. …

These cheeses are private goods. They are rivalrous, as the same piece of cheese can only be consumed once. They are also excludable, as it is well possible to prevent someone from consuming the cheese - simply by denying to sell it to them.